300 local level units to have land banks

KATHMANDU: The government, in collaboration with the provoncial and local governments, is set to establish land banks in 300 local levels.

A budget of Rs. 500 million has been allocated in the federal budget for fiscal year 2020-21 for share investment in the land banks.

According to Finance Minister Yubaraj Khatiwada, the land banks are targeted at addressing plights of youths who will be returning home and yet confined to the rural parts of the country due to the coronovirus pandemic. Barren lands and public lands would be utilised for the purpose and leased out to those wishing to practice farming.

Government will facilitate agro tools as incentives to such willing people.